Silver sank on fiscal cliff, weak global equities

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Precious metals apart from gold plunged on Wednesday amid broadly stronger greenback and mounting concerns over the US fiscal cliff. Market sentiment was further dampened by on-going concerns over the eurozone's economic instability.

Gold inched up as US President Barack Obama re-election ignited hopes that the country will stick to its accommodative monetary policy.  However, concerns over the US fiscal cliff coupled with appreciation in the US Dollar capped gains of the yellow metal.

Silver dropped on weakness in global equities and rallying greenback. The eurozone' s financial woes as well as looming leadership change in China also created heavy selling pressure on the grey metal.

Platinum slumped after Anglo American unsuccessfully attempted to end strikes by offering ‘hardship allowance' to miners who returned to work.

Palladium was the top-loser on an unexpected drop in the eurozone's retail sales  last month.
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Thu, 08 Nov 2012 09:30:24 GMT

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